Trelleborg AB’s Annual General Meeting was held on April 21, 2016, in Trelleborg, Sweden.
The theme of the President and CEO Peter Nilsson’s address was “A world leading Group that continues to develop”. The presentation summarized the Group’s direction and focused on Trelleborg’s different initiatives to grow, including the expected acquisition of CGS Holding and value generation from the participation in Vibracoustic. Peter Nilsson also reported on the 2015 fiscal year and progress in the first quarter of 2016. A video of the President and CEO’s address at the Meeting (Swedish only), together with a transcript (Swedish and English), will be available shortly at www.trelleborg.com.
The Annual General Meeting resolved on the following:
In accordance with the proposal of the Board of Directors and the President, the Annual General Meeting resolved to pay a dividend of SEK 4.00 per share (3.75). The record date is April 25, which means that the dividend is expected to be distributed by Euroclear Sweden AB on April 28.
Income statement and balance sheet
The Meeting adopted the income statement and balance sheet, and the consolidated income statement and balance sheet for 2015. The members of the Board and the President were discharged from personal liability for the 2015 fiscal year.
Board of Directors and auditor
The Meeting resolved to expand the Board by one member to encompass nine members.
In accordance with the Nomination Committee’s proposal, Hans Biörck, Jan Carlson, Sören Mellstig, Peter Nilsson, Anne Mette Olesen and Bo Risberg were re-elected. Gunilla Fransson, Johan Malmquist and Susanne Pahlén Åklundh were elected as new Board members. The Meeting elected Sören Mellstig as Chairman of the Board.
The Company’s auditor, PricewaterhouseCoopers, with Mikael Eriksson as auditor in charge, was re-elected for the period until the close of the 2017 Annual General Meeting.
Remuneration and remuneration principles
In accordance with the Nomination Committee’s proposal, the Meeting decided that the total fees paid to the Board, excluding travel expenses, be SEK 5,065,000 (4,625,000), with SEK 1,425,000 (1,300,000) to be paid to the Chairman and SEK 520,000 (475,000) to be paid to each of those Board members elected by the Annual General Meeting who are not employed within the Trelleborg Group. The Meeting decided that the auditor’s fees be paid on a current account basis.
In addition, the Meeting decided that fees paid to the members of the Audit Committee be SEK 175,000 (150,000) for the Chairman and SEK 110,000 (100,000) each for other members and that fees paid to members of the Remuneration Committee be SEK 60,000 (50,000) for each member. The Meeting also decided that fees paid to members of the Finance Committee be SEK 60,000 (50,000) for each member.
In accordance with the Board’s proposal, the Meeting approved the remuneration principles for the President and senior executives.
Decision on the Nomination Committee
The Annual General Meeting approved the nomination process for the Nomination Committee as presented.
Minutes from the Annual General Meeting will be published on www.trelleborg.com.